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Pine Gate Renewables to build 70-MW solar array in Albemarle, N.C.

Written by: Leonard Parker | Solar News | 26th October


By SB Staff October 25, 2021 View Profile

The Stanly Solar project is currently under construction, and upon completion it will be capable of powering approximately 15,500 homes per year through a 20-year power purchase agreement that was awarded through Duke Energy’s Competitive Procurement of Renewable Energy program. A total of 69.89MW of renewable energy will be generated for the Albemarle community by Pine Gate Renewables, its second project in Stanly County, NC.

“In addition to generating clean energy, Stanly Solar will provide construction jobs to dozens of workers, infuse money into local businesses and provide tax revenue to the town of Albemarle,” said Ben Catt, CEO of Pine Gate Renewables. “We’re excited to secure yet another significant solar project in our home state.” Stanly is one of Pine Gate’s 15 solar projects currently under construction in North Carolina, representing 300MW of clean energy that will be added to the grid once complete. It is expected to be online by the end of the year.

“MUFG is pleased to support Pine Gate Renewables in providing clean energy to the communities of North Carolina,” said Fred Zelaya, Director, MUFG Project Finance Group.

Albemarle Solar, the company’s first project in the County, went online earlier this year and generates 2.78MW of energy. John Hancock provided the preferred equity, Churchill Stateside Group provided the tax equity and MUFG provided the construction and permanent loan for Stanly Solar.  

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Have you checked out our YouTube page?

We have a ton video interviews and additional content on our YouTube page. Recently we debuted Power Forward! -- a collaboration with BayWa r.e. to discuss higher level industry topics as well as best practices / trends for running a solar business today.

Our longer running side project is The Pitch -- in which we have awkward discussions with solar manufacturers and suppliers about their new technology and ideas so that you don't have to. We've discusses everything from residential rail-less deck attaching and home solar financing to large-scale energy storage value stacking and utility-driven new home solar + storage microgrids.

We also post our Project of the Year announcements there! Interviews with this year's winners will be up starting the week of Nov. 8. Head there and subscribe today to stay on top of all this extra stuff.

Tags: North Carolina, Pine Gate Renewables

Source: https://solarbuildermag.com/projects/pine-gate-renewables-to-build-70-mw-solar-array-in-albemarle-n-c/